LAHORE: The Pakistan Cricket Board (PCB) is likely to suffer a financial loss of over Rs100 million due to its decision to stage the remainder of its Pakistan Super League (PSL) 2020 matches in Karachi and Lahore behind closed doors due to the novel coronavirus outbreak.
According to media reports, the loss will be borne by the PCB and PSL franchises with a sharing ratio of 30pc to 70pc, respectively.
The board was expected to make the said amount via ticket sales and hospitality deals. However, it will now be looking into the logistics of returning ticket payments instead.
Meanwhile, amid fears over the pandemic, a number of international players, who had flown into the country for the fifth edition of the Pakistan Super League on heavy sums, have decided to fly back to their home countries.
Also, the start of the multi-billion-dollar Indian Premier League (IPL) 2020 has been postponed to April 15th from March 29th as a “precautionary measure” against the coronavirus pandemic.
IMPACT ON PAKISTAN
Analysts fear that the outbreak of coronavirus could have an adverse impact on Pakistan’s economy, as it may lead to a decrease in personal income, meaning big purchases on things like cars or appliances would be postponed.
Pakistan today announced it is shutting all its land borders and limiting international flights for 15 days. The country borders China, where the coronavirus (Covid-19) originated, and Iran which is one of the worst-hit countries.
According to Risha Mohyeddin, Global Treasurer at HBL Bank, “There will undoubtedly be a significant and tragic human cost if Covid-19 takes hold in the Pakistan population, as much of the population lives in close proximity to each other. That said, there are factors that may slow spread of the disease into Pakistan.
“The impact on the economy will largely be dictated by government’s action and any impact on Pakistan’s export sectors.”